Putin Returns To The Gold Standard For Its Currency

submitted by Orangutan from magspunch.com

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[–][deleted] 8 insightful - 3 fun8 insightful - 2 fun9 insightful - 3 fun -  (3 children)

Did some digging into this, the Ruble has been backed by gold since at least 2016.

The abolition of VAT on bullion on gold is huge, that VAT tax discourages investing physical bullion since you're doing it at a +20% premium.

The US doesn't have a VAT tax.

This articles claims are nonsense, what this is going to do is allow wealthy Russians to hoard away their wealth in gold that nobody can touch with economic sanctions.

The price of gold does not outpace the US economy, dollar reserves still make more sense, even backed by nothing.

[–]raven9 10 insightful - 2 fun10 insightful - 1 fun11 insightful - 2 fun -  (2 children)

The USD is backed by an extortion racket. For real. That is no exaggeration. Artificial demand for USD is created by forcing oil producing nations to make their oil sales in USD. This has been the case for the last 50 years and is the reason for the constant U.S. interference in the middle east. It began in the 1970's. In classic mafia style the Nixon administration offered the oil producing nations "protection" from their enemies. In return for that protection they must promise to make their oil sales in USD. If they refuse that protection and decide to make oil sales in other currency they will be overthrown/invaded/destroyed.

[–][deleted] 4 insightful - 3 fun4 insightful - 2 fun5 insightful - 3 fun -  (0 children)

Underrated comment. This is "modern economics" for you.

[–][deleted] 4 insightful - 3 fun4 insightful - 2 fun5 insightful - 3 fun -  (0 children)

Have an upvote. This is a beautiful synopsis of the brutality of the Western way to world domination.

[–]Dunwidit 5 insightful - 2 fun5 insightful - 1 fun6 insightful - 2 fun -  (3 children)

I read the quote about 2016. That said Gaddafi tried that... Hillary killed him. But Putin isn't Qaddafi, is he....😉

[–][deleted]  (2 children)

[deleted]

    [–]Dunwidit 3 insightful - 2 fun3 insightful - 1 fun4 insightful - 2 fun -  (0 children)

    Oh I imagine it goes back to Rome maybe further... They've been at it for a very very long time. I'm going to go ahead and assume you're familiar with the book "confessions of an economic Hitman" I think it should be required reading for everyone.

    [–]Airbus320 1 insightful - 2 fun1 insightful - 1 fun2 insightful - 2 fun -  (0 children)

    Lets be careful from u/jet199 then

    [–]HiddenFox 3 insightful - 3 fun3 insightful - 2 fun4 insightful - 3 fun -  (7 children)

    Does Russia have the gold need to back this? Also, if the west bans the ruble who would use it?

    [–]Tiwaking 3 insightful - 2 fun3 insightful - 1 fun4 insightful - 2 fun -  (5 children)

    HiddenFox 3 insightful - 1 fun - an hour ago Does Russia have the gold need to back this? Also, if the west bans the ruble who would use it?

    A better question is: Does Fort Knox contain any gold at all?

    [–][deleted]  (4 children)

    [deleted]

      [–][deleted] 3 insightful - 2 fun3 insightful - 1 fun4 insightful - 2 fun -  (3 children)

      Yeah Putin's case is strange: he's got anti-gay, anti-trans, anti-degeneracy laws, kicked the Rotschilds out of his country, is friends with the Jews... I can't make heads or tails of it. Is he with the kikes, or against them? Is he so far up their ass, he gets to have those laws and pretend to ban the Rothschilds? He's a freaking mystery.

      Then he goes full anti-Nationalist against the Ukrainian Nationalists who supposedly use professional middle-eastern terrorists and their ways in fighting, including shielding behind civilians, which is abhorrently anti-nationalist to begin with. It's a hell of a mess. It makes no sense.

      [–]raven9 2 insightful - 2 fun2 insightful - 1 fun3 insightful - 2 fun -  (1 child)

      Putin is a Jew himself that's why he can say what he thinks.

      [–][deleted] 2 insightful - 2 fun2 insightful - 1 fun3 insightful - 2 fun -  (0 children)

      I can't believe that, he's anti-gay and anti-trans.

      [–][deleted] 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

      Yes, they do. ANY amount of gold reserves used as a convertible will give a currency hardness.

      [–]Dunwidit 3 insightful - 1 fun3 insightful - 0 fun4 insightful - 1 fun -  (0 children)

      It seems people are missing the point of what is happening... There isn't enough fake money in circulation to cover the interest charged on the fake money. Or as Bernie Madoff would put it. The Ponzi scheme is up. Cuz they're not going to admit for a single nanosecond that it was all a Ponzi scheme... In addition to being unconstitutional third party printing our currency and all... They're going to play out this well orchestrated theatrical performance... Give us digital currency... To hide the fact that the fake currency that they already established collapsed... No idea how they're going to cover up the fake currency scam 100 years into our future... Maybe keep vaccinating you till you're all dead...?

      [–]yabbit 1 insightful - 2 fun1 insightful - 1 fun2 insightful - 2 fun -  (0 children)

      uh oh

      [–]Dunwidit 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

      Also sorry voice to text sucks

      [–]buffalo_fart_the_IV 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (3 children)

      I'm sure there's ways to get your money over to Russian rubles you just got to be a little creative. The West wants a war with Russia it's very apparent just trying to find reasons every government has to have a reason other than George Bush of course well his reason was probably just as bad as FDR's reason to be honest and just as phony.

      [–][deleted]  (2 children)

      [deleted]

        [–]buffalo_fart_the_IV 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (1 child)

        I for sure don't want a war. We got enough made up fuck over the little guy bullshit to deal with.